Try our mobile app
Adcock Ingram Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number: 2007/016236/06)
Share code: AIP
ISIN: ZAE000123436
(“Adcock Ingram” or “Company”)
ACQUISITION OF ORDINARY SHARES FROM A WHOLLY-OWNED SUBSIDIARY
Shareholders are advised that the Company acquired 8 418 861 (eight million four hundred and
eighteen thousand eight hundred and sixty one) ordinary shares (the “Shares”), which equates to
4.96% of the Company’s issued share capital, from its wholly owned subsidiary, Adcock Ingram
Limited (the “Subsidiary”) on 26 October 2023 for a total consideration, determined using the
market price, of R446 199 633, equating to R53.00 per ordinary share (“Repurchase Transaction”).
The Subsidiary had previously repurchased the Shares in accordance with general authority
granted by shareholders at the Company’s annual general meeting held on 22 November 2022
(“General Meeting”) and the Shares had since been held as treasury shares.
The Company confirms that:
1. The Repurchase Transaction is regarded as a repurchase of shares as contemplated in
section 48 of the Companies Act 71 of 2008, as amended (the “Companies Act”) and there
has been full compliance with all aspects of the Companies Act. The repurchased Shares
will be restored to the status of authorised but unissued shares in accordance with section
35(5) of the Companies Act.
2. The Repurchase Transaction will have no impact on the financial position of the Adcock
Ingram Group (“Group”) and is cash neutral for the Group, as no funds will leave the Group.
Following the Repurchase Transaction, the Company will apply to the JSE Limited for the delisting
of the Shares.
Following the Repurchase Transaction, delisting and cancellation of the Shares, the Company,
through the Subsidiary, will still hold 8 531 139 ordinary shares in treasury.
Midrand
30 October 2023
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
